New Build

What is this and why do I need it?

A new build home is usually considered one that has been built in the past two years but has never been owned or lived in. Some lenders have different definitions of what qualifies as a new build home, often regarding how long ago it was built, so make sure to find out what your lender considers a new build.

What can Beesure provide?

Mortgage lender criteria is stricter for New Builds. You may find that you’re charged a higher interest rate for a mortgage on a new-build property. This is because lenders see these mortgages as riskier, due to the possibility that the value of the property may fall in its early years. This doesn’t always happen, but if it does – simply because the property is no longer ‘new’ – then the lender has less security for the loan it’s provided. Mortgages are not “one size fits all” and at Beesure we know that. Through their robust process our advisers will ensure that a New Build property is the right option for you.

Why is Beesure the right choice?

Starting a build from scratch can be a daunting thing but choosing the right lender and mortgage product to support your build can be made easier with Beesure on your side. We know the industry and can advise you on your options to make the big decisions easier to make. 

Request your free consultation now.

Frequently Asked Questions

What classifies as a new build?

‘New build’ is a term that denotes new construction as opposed to the renovation or refurbishment of existing structures. New build can include newly constructed structures of all types such as houses, apartments, office blocks, hospitals, stadia and so on.


Can I build the house or do I need to purchase from a developer?

Unless you are paying in cash, you will need to arrange for a construction loan. Some lenders provide a one-step loan that is interest only while the house is being built and then converts to a mortgage once construction is finished. The advantage is that you will have to pay closing costs only once.


What kind of deposit is required?

Buyers are usually asked to pay a deposit of between 10-30% of the total price of a new build upon exchange. This is paid to the developer’s solicitor.

Speak to one our team for a free no obligation initial consultation.

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Beesure Limited is authorised and regulated by the Financial Conduct Authority no. 832417.
Beesure Limited is a company registered in England and Wales. Company number: 10551333.
Registered office address: Ground Floor, Rowan House, Hazell Drive, Newport, NP10 8FY.

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